Friday 29 Mar 2024
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KUALA LUMPUR (Oct 12): The FBM KLCI is seen trading range bound today, in line with the overnight fall at global markets, with immediate hurdle at 1,700 points.

External factors still feature prominently on local investors’ sentiment

Wall Street extended its slide into a sixth session and a global equity index fell to a 1-year low on Thursday as investors feared an escalating US trade war with China and risks from a recent climb in interest rates, according to Reuters.

The Nasdaq flirted with correction territory, sliding as much as 10.3% from its Aug 29 closing record high, before paring losses to end off those levels and avoiding confirming a correction, it said.

The Dow Jones Industrial Average fell 545.91 points, or 2.13%, to 25,052.83, the S&P 500 lost 57.31 points, or 2.06%, to 2,728.37 and the Nasdaq Composite dropped 92.99 points, or 1.25%, to 7,329.06, it said.

MSCI's gauge of stock performance in 47 countries dropped 2.2%, falling below its February lows to trade at its lowest since October 2017, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include Pasdec Holdings Bhd, Barakah Offshore Petroleum Bhd, Top Glove Corp Bhd, Revenue Group Bhd, Ta Win Holdings Bhd, Cuscapi Bhd, Supermax Corp Bhd, Orion IXL Bhd and Kerjaya Prospek Group Bhd.

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